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Transfer half of the sauce to bowl; cover and reserve for serving. Brush roast with oil; sprinkle with salt and pepper. Place on greased grill over medium-high heat; close lid and grill, turning 3 times, until thermometer inserted in centre registers 140°F (60°C) for medium-rare, 40 minutes. Brush with remaining sauce; grill, turning once, until crusty, about 6 minutes.

Transfer to cutting board and tent with foil; let stand for 5 minutes before slicing thinly. Serve with reserved sauce.